TANFAC Industries Ltd (TANFACIND)

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TANFAC Industries Ltd (TANFACIND) · mywealthgrid

About

Commodity chemicals manufacturer, Materials sector; market cap ₹7,514 Cr. Quarterly standalone revenue ₹80–180 Cr, operating margins 16–28%, net profit ₹10–34 Cr. Price-taker in commodity-driven markets.

Face value: ₹5

Market cap

₹6,909 Cr

P/E

98.5×

P/B

17.4×

Dividend yield

0.4%

ROE

20.5%

ROCE

27.7%

Debt / equity

0.25

OPM

15.8%

EPS (TTM)

₹35.1

Book value

₹187.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Revenue and profit volatility: ₹81–178 Cr quarterly revenue span and ₹10–34 Cr net profit swings across 8 recent quarters; verify if current ₹170+ Cr run-rate reflects demand recovery or cyclical peak.
Margin sustainability unproven: OPM ranged 15.9–28.24% (Mar 2024–Dec 2024); test what raw-material cost and product-pricing assumptions support current 23.14% OPM forward.
High valuation on cyclical commodity business: PE 85.25 assumes significant earnings growth; verify what growth or margin trajectory justifies this for low-moat commodities player.
Margin compression precedent: OPM fell to 15.9% (Mar 2024) and 16.4% (Jun 2024); model downside if commodity prices or demand cycles reset.

Generated analysis · source review pending

Growth drivers

Revenue recovery: ₹81 Cr (Sep 2023) to ₹178 Cr (Dec 2024), 90% growth; verify if demand recovery, pricing action, or cyclical upcycle, and test forward sustainability.
High-margin incremental profit: OPM ranged 20.8–28.24% recent quarters; if 23%+ persists, incremental revenue drives significant profit growth; verify cost structure and input headroom.
Balance sheet capacity: D/E 0 and annual dividend history signal cash generation; verify capital allocation (capex, M&A, or shareholder returns) and intended ROI.

Generated analysis · source review pending

556 historical price candles were omitted because the exchange source has not been verified.

₹3,259.1-2.4%1Y

Quick read

rule-based

Pros

+Strong return on equity of 26.1% (3-yr avg)
+High return on capital employed of 35%
+Profit CAGR of 32% over the last 5 years
+Revenue CAGR of 36.9% over the last 5 years
+Comfortable interest coverage of 22.5×
+Dividend payout of 40.8% of profit

Cons

−Expensive at 98.5× trailing earnings
−Trading at 17.4× book value
−Promoter holding fell 3.1 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

39/100

Business quality: 72

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Deepak Fertilizers And Petrochemicals Corporation LimitedDEEPAKFERTDEEPAKFERT	₹16,417 Cr	₹21,903 Cr	₹12,104 Cr	₹2,016 Cr	14.6%	₹984 Cr	6.4%	12.6%	11.3%	55
Tata Chemicals LimitedTATACHEMTATACHEM	₹15,487 Cr	₹23,488 Cr	₹15,120 Cr	₹1,711 Cr	12.4%	₹-2,165 Cr	-11.8%	2.9%	-8.9%	113
Gujarat Narmada Valley Fertilizers And Chemicals LimitedGNFCGNFC	₹8,655 Cr	₹8,655 Cr	₹8,410 Cr	₹1,241 Cr	11.3%	₹1,037 Cr	10.4%	10.6%	9.1%	81
TANFAC Industries LtdTANFACINDTANFACIND	₹6,909 Cr	₹7,002 Cr	₹711 Cr	₹112 Cr	15.8%	₹70 Cr	9.9%	27.7%	20.5%	112
Gujarat Alkalies And Chemicals LimitedGUJALKALIGUJALKALI	₹4,430 Cr	₹4,998 Cr	₹4,498 Cr	₹510 Cr	9.3%	₹66 Cr	-0.1%	1.6%	-0%	25
Grauer & Weil India LimitedGRAUWEILGRAUWEIL	₹3,709 Cr	₹3,717 Cr	₹1,134 Cr	₹188 Cr	16.6%	₹69 Cr	13.9%	23%	18%	72
Ghcl LimitedGHCLGHCL	₹3,700 Cr	₹3,762 Cr	₹3,064 Cr	₹689 Cr	22.5%	₹472 Cr	15.4%	17%	13.4%	126
J.g.chemicals LimitedJGCHEMJGCHEM	₹2,392 Cr	₹2,399 Cr	₹1,071 Cr	₹96 Cr	8.4%	₹75 Cr	7.1%	18.2%	13.3%	101
Thirumalai Chemicals LimitedTIRUMALCHMTIRUMALCHM	₹1,764 Cr	₹3,857 Cr	₹1,832 Cr	₹20 Cr	-2%	₹-152 Cr	-9.7%	-3.3%	-12.3%	14
Ig Petrochemicals LimitedIGPLIGPL	₹1,754 Cr	₹2,110 Cr	₹2,073 Cr	₹207 Cr	4.9%	₹82 Cr	0.1%	3.2%	0.2%	23
Indo Borax & Chemicals LimitedINDOBORAXINDOBORAX	₹1,507 Cr	₹1,507 Cr	₹232 Cr	₹52 Cr	20.5%	₹56 Cr	23.3%	15.5%	15.1%	110
Innovassynth Technologies (India) LtdINOVSYNTHINOVSYNTH	₹1,462 Cr	₹1,466 Cr	₹0 Cr	₹-0 Cr	—	₹-5 Cr	—	-1.1%	-12%	—

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	131	123	166	222	165	148	320	375	378	557	711
COGS	-80	-64	-85	-109	-86	70	175	227	221	305	445
Gross profit	—	—	—	—	—	78	146	148	157	252	266
	210	175	232	279	225	45	71	73	87	123	154
	1	13	19	52	26	33	75	75	71	129	112
OPM %	0.6%	10.2%	11.4%	23.4%	15.7%	22.1%	23.5%	19.9%	18.7%	23.1%	15.8%
Depreciation	—	—	—	8	5	8	6	6	7	10	17
Interest	7	6	6	3	1	1	1	1	1	3	4
	—	1	1	—	1	1	3	8	7	3	2
Profit before tax	0	4	10	42	22	25	72	75	70	119	93
Tax	—	—	—	—	5	8	19	19	18	31	23
Tax %	—	—	—	—	21.6%	30.3%	25.9%	25.6%	25.1%	25.8%	24.3%
	0	4	10	36	17	17	53	56	52	88	70
PAT margin %	0.3%	3%	5.8%	16.2%	10.3%	11.8%	16.6%	15%	13.9%	15.8%	9.9%
EPS (₹)	0.4	—	9.4	36.1	17	17.5	53.4	56.3	52.6	88.4	35.2
EPS adjusted (₹)	—	—	—	—	8.5	8.8	26.7	28.1	26.3	44.2	35.1
	0%	—	0%	0%	0%	0%	16.8%	11.6%	13.3%	10.2%	12.8%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	10	10	10	10	10	10	10
Reserves	55	73	124	174	220	302	363
	0	0	0	0	0	41	93
	24	37	49	68	71	73	62
Total equity & liabilities	89	120	182	252	301	426	528
	33	40	40	55	61	168	212
CWIP	6	3	12	6	29	8	29
Investments	1	23	42	67	67	9	19
	49	55	88	124	145	242	269
Total assets	89	120	182	252	301	426	528

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	52.5%	45.5%	39.5%	41.6%	45.2%	37.5%
EBITDA margin %	23.4%	15.7%	22.1%	23.5%	19.9%	18.7%	23.1%	15.8%
EBIT margin %	19.7%	12.9%	16.4%	21.7%	18.2%	16.9%	21.3%	13.3%
PAT margin %	16.2%	10.3%	11.8%	16.6%	15%	13.9%	15.8%	9.9%
Working capital
Receivable days	—	40	40	28	49	59	65	57
Inventory days	—	45	128	87	85	97	108	76
Payable days	—	28	137	73	75	75	47	21
NWC days	—	56	31	42	60	81	126	112
Leverage
Current ratio	—	2.58	2.3	2.85	2.98	3.07	2.29	1.77
Debt to EBITDA	—	0.02	0	0	0	0	0.32	0.83
Debt to equity	—	0.01	0	0	0	0	0.13	0.25
Interest coverage	14.4	26.4	49.2	71.5	86.8	97	46.7	22.5
Asset turnover	—	1.85	1.23	1.76	1.49	1.26	1.31	1.35
Return ratios
Return on assets %	—	19.1%	14.5%	29.2%	22.3%	17.4%	20.7%	13.3%
Return on capital employed %	—	31.9%	32.3%	64.8%	46.8%	33.4%	43.8%	27.7%
Return on equity %	—	26%	21%	39.9%	30.5%	22.8%	28.3%	18.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	51.81%	51.81%	51.81%	51.81%	51.81%	51.81%	51.81%	51.81%	51.81%	51.81%	51.81%	48.73%
	0%	0%	0%	0%	0%	0%	0.15%	0.08%	0.12%	0.1%	0.03%	1.53%
	0.06%	0.06%	0.11%	0.19%	0.39%	0.39%	0.42%	0.39%	0.42%	0.39%	0.33%	4.16%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	48.13%	48.13%	48.08%	48%	47.8%	47.8%	47.62%	47.72%	47.65%	47.7%	47.83%	45.58%
No. of shareholders	—	—	—	—	—	—	—	—	19,300	18,948	16,344	16,393

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

0.52%

of the company's equity

All mutual funds

0.83%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

3 schemes

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	56,718	17.93	2.26%	0.268%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	54,378	17.19	1.45%	0.257%	-3,879
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	27	0.01	0.01%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

61 announcementsExport CSV

30 Sept 2026, 11:56 amInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

9 Sept 2026, 2:51 pmCompany Update

Outcome Of The Meeting Of The Preferential Issue Committee

General PDF

3 Sept 2026, 10:24 amCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

1 Sept 2026, 11:38 pmCompany Update

Intimation Of Book Closure And Record Date For The 52Nd Annual General Meeting Of The Company

General PDF

1 Sept 2026, 10:59 pmOthers

Business Responsibility and Sustainability Reporting (BRSR)

Business Responsibility and Sustainability Reporting (BRSR) PDF

1 Sept 2026, 10:48 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

1 Sept 2026, 10:13 pmCompany Update

Notice Of The 52Nd Annual General Meeting (AGM) Of The Company For The FY 2025-26

General PDF

1 Sept 2026, 10:53 amCompany Update

Intimation Of Receipt Of In-Principle Approval From BSE Limited For Issue Of Equity Shares On Preferential Basis

General PDF

Date	Category	Subject	Filing
30 Sept 2026, 11:56 am	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
9 Sept 2026, 2:51 pm	Company Update General	Outcome Of The Meeting Of The Preferential Issue Committee	PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	52.5%	45.5%	39.5%	41.6%	45.2%	37.5%
EBITDA margin %	23.4%	15.7%	22.1%	23.5%	19.9%	18.7%	23.1%	15.8%
EBIT margin %	19.7%	12.9%	16.4%	21.7%	18.2%	16.9%	21.3%	13.3%
PAT margin %	16.2%	10.3%	11.8%	16.6%	15%	13.9%	15.8%	9.9%
Working capital
Receivable days	—	40	40	28	49	59	65	57
Inventory days	—	45	128	87	85	97	108	76
Payable days	—	28	137	73	75	75	47	21
NWC days	—	56	31	42	60	81	126	112
Leverage
Current ratio	—	2.58	2.3	2.85	2.98	3.07	2.29	1.77
Debt to EBITDA	—	0.02	0	0	0	0	0.32	0.83
Debt to equity	—	0.01	0	0	0	0	0.13	0.25
Interest coverage	14.4	26.4	49.2	71.5	86.8	97	46.7	22.5
Asset turnover	—	1.85	1.23	1.76	1.49	1.26	1.31	1.35
Return ratios
Return on assets %	—	19.1%	14.5%	29.2%	22.3%	17.4%	20.7%	13.3%
Return on capital employed %	—	31.9%	32.3%	64.8%	46.8%	33.4%	43.8%	27.7%
Return on equity %	—	26%	21%	39.9%	30.5%	22.8%	28.3%	18.8%

4 deals · 9 Aug 2021 – 1 Dec 2023

Date	Client	Type	Venue	Side	Quantity	Price	Value
1 Dec 2023	ANSHUL SPECIALTY MOLECULES PRIVATE LIMITED	Bulk	BSE	Sell	2,47,250	₹2,210.24	₹54.65 Cr
1 Dec 2023	HIMALAYA FINANCE & INVESTMENT COMPANY	Bulk	BSE	Buy	1,80,000	₹2,210.00	₹39.78 Cr
9 Aug 2021	SANTOSH INDUSTRIES LIMITED	Bulk	BSE	Buy	97,550	₹333.05	₹3.25 Cr
9 Aug 2021	SANTOSH INDUSTRIES LIMITED	Bulk	BSE	Sell	550	₹327.00	₹0.02 Cr

1–4 of 4

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	37	44	43	34	33	43
	-34	-35	-40	-30	-42	-91
	-1	-5	-6	-7	32	38
Net cash flow	2	5	-3	-3	23	-9
Free cash flow	—	29	28	-2	-64	-39
CFO / Operating profit %	113.8%	58.5%	57.4%	48.4%	25.5%	38.7%

TANFAC Industries Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

10

1

1

Compounded sales growth

Compounded profit growth

Return on equity

TANFAC Industries Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Quarterly record

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends10

Board meetings1

Stock splits1

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

10

1

1